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to work, taking a shared responsibility approach to our long-term deficits so we bring them down in a balanced smart way and they rejected the idea that we're going to move the economy forward by giving windfall tax cuts to the very wealthiest in the country and the benefits of that would trickle down and lift everybody up. they rejected that lopsided approach that balance the budgets on the backs of everybody but the folks at the very top. balance the budget on the backs of our kids' education by slashing important investments. in that category of spending we make these important investments for our country and our future, they double the cut from the sequester. so those are our investments in our kids' education. those are our investments in science and research to help power our economy. those are our investments to help modernize our infrastructure. they cut transportation by 15% when we have 15% unemployment in the construction industry. so mr. chairman, the american people rejected the kind of uncompromising lopsided approach that we see once again presented here in the hou
nation that does not -- is not riddled with debt and deficit, but also a nation that continues to be the economic leader in the world. and i believe our plan makes -- protects those investments in those key components of growth. and i hope over the coming hours that we will go through this debate and -- and i know we'll have a spirited period of a lot of amendments. this -- this budget i believe will pass and it will have to then find agreement with our colleagues in the house. and i just want to again commend both the chair and, for that matter, the ranking member. at the end of the day, we have to find common agreement to get this done. this issue that hovers all over of our other debates has become a metaphor as to whether our institutions can if you please in the 2 1*9 century. so just as the chair and rank member found agreement through a markup process where both sides were heard and amendments were offered and debated in a fair and open process, i want to both thank the chair and rank member for their commitment. they have different idead about how we get there, but at t
the deficit by 25% and have cut immigration by a third. we have a long, hard road to travel, but we are going in the right direction. >> hear, hear. >> mr. james morris. >> i am sure that the prime minister will wish to add his condolences to the family and friends of christina edkins, who was murdered on a bus to school in my constituency last morning. the government have rightly introduced minimum custodial sentences for people convicted of threatening someone with a knife, but does the prime minister agree that it is time to introduce a legal assumption that people carrying a knife intend to use it and should attract a prison sentence, so that we can redouble our efforts to rid our communities of the scourge of knives? >> hear, hear. >> i think that my honorable friend speaks for the whole house and, indeed, the whole country on the absolute revulsion at this horrific crime. i know that the whole house will sincere condolences to christina edkins's family. we take knife crime extremely seriously, which is why, as my honorable friend has said, we changed the law so that any adult who commit
that america does have a debt and deficit problem and we need to take it very seriously. the fact is, the vast majority of our debt problems relate to the costs of health care in america. now that the debate over obama care is over, we should start thinking about how to get america's health care costs under control. as it turns out, two new works, a book and a magazine cover story provide some very useful ways to think about it. the central debate between democrats and republicans is over whether the free market works well in health care. in a new book, catastrophic care, david goldhill makes the case for the market arguing that people need to become consumers of health care so that they, not insurance companies, not the government, actually see, feel and pay the bills. that will force producers of health care, doctors and hospitals, to push down prices and drive up quality. that's what happens with groceries and television sets and computers. lasiks surgery which is not covered by health insurance, has seen a 90% drop in price and increase in quality since it was introduced in the 1990s. that
a debt and deficit problem and we need to take it very seriously. the fact is that the vast majority of our problem is related to the cost of health care in america. now the debate over obama care is over, we should start to think seriously of how to get america's health care costs under control. as it turns out a book and magazine story provide ways to think of this. the central debate between republicans and democrats is over whether the free market works well in health care. in a new book catastrophic care, they make the case arguing people need ito become consumers of health care so they, not insurance companies or the government, actually see, feel and pay the bill. that will force producers of health care, doctors and hospitals to push down prices and drive up quality. that's what happens with groceries, tv sets or computers. and basic surgery has seen a 90% drop in price and increase in quality since it was introduced in the '90s. that's what happens when consumers pay for a product. steven makes the opposite case in a recover story in "time" magazine. he painstakingly went th
's this job that has seen the deficit come down by a third since he became chancellor. and private sector jobs. he's cutting the country out of a whole we were left in by the party opposite. [cheering and applause] [inaudible] >> the prime minister welcome. the country's first local enterprise fund people who care have raised 400,000 pounds to invest in businesses and encouraging enterprise securing employment and in so many others where they lead the rest of the country -- [inaudible] i'm sure my friend is right about that the leadership of all things. he makes an important point, need to see more small businesses start, more enterprise. we need to see more to keep the private sector going. >> alex cunningham. >> rising unemployment remains an issue in my constituency. based on the reemployment and recession which claims hard working families in the most vulnerable for the obscene tax for millionaires. [cheering and applause] -- looks at the figures today he'll see there are 131,000 more people in work over the last quarter, we have seen 600,000 more people employed compared with a year ago,
to get anything going and that's the way to deal with the deficits, of course. and there were some measures there. no national insurance payments for employees for the first few thousand pounds reducing corporation tax earlier to 20%. infrastructure spending, could it be more? businesses would always want more. but there was acknowledgement he tried while keeping the next fiscally neutral. on the whole, businesses say, not bad, could have done more. i think that will be the summation for them. the key factor, of course, is if you're not going to do more to stimulate your own growth, what happens to the eurozone becomes even more important. and i did speak to the chancellor, george osborne, just a short while ago and i asked him how worried is he about what's going on in cypress? this is what he had to say. >> it is a worrying situation in cypress and i think there's been some sole rans in international markets and elsewhere that they've got to sort these problems out. but obviously, we now need a solution. if i would have concerns if these depositors, less than a hundred thousand e
. melissa: we are running an enormous deficit, towns and cities and municipalities. what are the other solutions? and we privatize? could we privatize infrastructure somehow? because i don't know where we will come up with the money to fix it. >> when you think about water, it is the users that should be paying for the use of it. there should be a user fee for it. a lot of municipalities have that. but unfortunately, they have not been keeping pace with inflation to provide the repairs that are needed. melissa: it is interesting that the place where we earned the highest grade was aab. and that have to do with solid waste and thamount that we are recyclg and composting in this country. is that the only bright point. >> there were so many bad grades. but we did see six categories actually go up this time from the 2009 report card. in those areas, there were investment. the listeners can see that report card. melissa: thank you so much for comi on. i feel like i should think of a private solution. now it is time for today's report. cyprus is going to avoid a collapse. they settled 1.5%,
reduce unemployment to nearly five -- two near 5% and three years. it would reduce the deficit by $4.4 trillion over 10 years. and it would strengthen medicare and medicaid amah and you'd be asking the wealthy to pay their fair share. -- medicare and medicaid and you would be asking the wealthy to pay their fair share. guest: the institute of policy analysis estimated that you are spending money on infrastructure. we have a to point to dollar trillion infrastructure deficit, according to the transportation -- american society of civil engineers. building roads, highways, bridges, etc. you put people to work building schools and other necessary things. you give money to the states. the states have laid off 700,000 cops, firefighters, and teachers. you give money to states for couple years to rehire them. those kinds of things add up. by doing all this, you stimulate the economy. that means the private sector generates more jobs. it comes to about 7 million altogether. host: what do you consider fair share when it comes to wealthy taxpayers? guest: we propose two different things. numb
account deficits, we're not shipping as much joe seas? >> when people think of the economic situations, they think of the u.s. but what it will do, it will cut into the u.s. deficit and it will cut into the chinese surplus. and you ask the average economist for the last three or four years before the crisis, during the crisis, after the crisis, what's the global economic problem, number one, the answer probably isn't microimbalances. trade surplus in the u.s., trade surplus and china. what i didn't know is that still more than half of the u.s. deficit of goods and services is energy imports. >> and that's going to go away? >> as things are going, that might be going away. at the same time, china surplus will suffer from the tracing of independence of china. >> that's strong dollar weak yuan. becky. >> just an observation. >> first, tight oil, i haven't heard of this before. i know where the marcellus shale fields are. where is tight oil? is it in the same sort of locations? >> same. traditionally, coming out of gas yields because of this huge different between gas and oil prices. which
that the republicans are a little bit too root canal, a little bit too debt-obsessed, a little bit too deficit-obsessed and don't talk about the economy and jobs, which polls still show are the number-one issue. >> yeah, they've got to go back to reagan and jack kemp to stop acting like consequence at this pated accountants and get focused on what makes this economy grow. and the way you get revenues, not by raising taxes, by growth. if we had normal growth rates, we would get another 4 or 500 billion right off the bat. that's what they should focus on. all a means to an end. on social security, stop coming across that you're going to, you know, do something to grandma and instead talk about the idea, which they haven't, they don't touch it, of having accounts for young people with proper controls where they own the fruits of their labor, not washington politicians. make it positive instead of this -- as you say, root canal, that was more graphic. >> i think that -- i don't want to get -- i want to talk about the corporate tax, but i want to add to this, i think in a sense obama was right. and
. it never balances. never comes close to balancing. it claims that it reduces the deficit over 10 years by $1.5 trillion. that is not correct. [ male announcer ] in blind taste tests, even ragu users chose prego. prego?! but i've been buying ragu for years. [ thinking ] i wonderhat other questionable choices i've made? [ club scene music ] [ sigh of relief ] [ male announcer ] choose taste. choose prego. bill: there's a top republican senator now demanding answers from the fbi director after not being briefed on their benghazi investigation for the last six months. four americans died in the assault on the u.s. consulate including our ambassador chris stevens. senator susan collins says she wants some simple questions answered. quote, are any of the suspects believed to be responsible for the deaths of these four americans including ambassador stevens in u.s. or libyan custody? how many suspects in the attacks are still at large? a few other questions after that. virginia republican congressman frank wolf has been fighting for answers in benghazi. he is our guest now. sir, good morning,
is not in there. too much deficit reduction, 16%. slow job growth, 12%. too little deficit reduction, 10%. guys, these are more normal problems, i would say, than we've had in the past. the european financial crisis, u.s. financial crisis. sue, i would take a victory, yes, there are problems out there. >> i totally agree with you. it's the first time in a long time we haven't seen europe on a list like that. >> thank you, steve. >> absolutely. thanks, steve. >> sure. >> the markets here are a little lower, not all that much, though, given what we've had in headline risk this morning. dow jones industrial is down 38 points and s&p is off about 9. bob pisani is here to tell us what is going on. there's a lot of headline risk in the market today. >> and we're back moving on europe now. >> exactly. given 38 to the downside is not that bad. >> even europe is not reacting that much. let me show you the euro. everyone goes crazy talking about the euro. perhaps the finance minister may be resigning, we're trying to confirm that for sure. that's what we've been hearing. and on words that the governing b
, immigration and guns and what to do about the deficit. >> don't forget two other prominent spokes people, the president and vice president. they care a lot about it and have been quiet of late. i expect to see a big push between of two of them before the vote. >> the lack of courage in the united states is asstountounast. >> it's amazing. >> no one is coming to take your gun. no one is coming to take your gun. >> it's amazing. it's amazing. when you look at the fact that we are talking about a simple thing like background checks. people are dying every day. a baby killed in -- >> in pennsylvania. >> in brunswick, georgia. we are arguing about background checks is almost ununbelievable. surreal. >> background checks have 90% of support among the american people last check. >>> senator bob casey of pennsylvania will join us on the set coming up and leigh gallagher and representative rick mulvaney will weigh in. our good friend michael hainey will have a preview of the "gq" magazine. bill karins, what is up? >> schoolhouse are cancelled around baltimore and washington, d.c. a lot of delays.
know they have a barbershop there? you can go and beat hair cut there. but they are running deficits of $350,000 a year. time to privatize? >> kimberly: time to supercuts. >> dana: speaking of that, we did a google search. if you let the senators know it would not be the end of the world if you had to give up the senate barbershop. look on the map. there are seven places in walking distance from the capitol to get your hair cut. >> kimberly: now give them coupons to go over there. and give it to the barber and start it up. c'mon, i pay less to get my hair done. >> dana: time to privatize the senate barbershop? >> greg: i don't know. look at the success the barbershops have had. good job, guys. >> eric: you got your hair cut? >> greg: they fell asleep at the wheel. i use the great acres analogy. obama's democrats are like the sexy zaza that could expense every vehicle they have. eddie arnold is the guy that always has to play the bills. we have zsa zsa gabor in the white house. it's great because in a sense they're our mother so they tell us thousand use the microwave. might be at nig
it in for the dunk to cut the deficit to one. st. louis was just too much. cody ellis drains the three to give st. louis a six-point lead. they go on to win 62-56. so st. louis plan to watch the ncaa selection at the airport but they ran into traffic so they settled for watching it at a best buy in new jersey. look, it comes with comedy la-z-boys. don't expect to see defending champion kentucky, they were left out of the big dance. we start in the midwest where louisville claim the top 87 all seed in the tournament. should they win they'll face the winner of the colorado state versus missouri game. in the west, gonzaga got the number one seed but they've got a tough road. they would face the winner of the pitt versus wichita state game in the second round. on the other side of the bracket kansas took the top seed in the south but they have a date with either unc or villanova should they advance to the round of 32. in the east, indiana starts as the top seed. it's second seed miami that has a lot of people talking. they'll face pacific in the opening round. then vegas likes louisville to take the
they trust on spending issues. when asked how our budget deficit should be reduced, a large majority, 65% of people said by cutting spending. when asked to choose between the budgets proposed by each party, most people pick the one more in line with the republican proposal. cutting spending and not raising taxes. but when asked when each party was trusted more, people say that they trust the democrats more. go figure. let's get an amp explanation from charlie hearst, economists at the washington times. so you have this. people seem to like the republican approach. they just don't like the republican label with it. why is that? >> i think a large degree, republicans have been snakepit. largely because of what we have seen over the last couple of years. republicans talking to the media, which is something the democrats have focused on more than anything else. including the ideas that republicans have gone four. voters are far more in line with those ideas. but i would actually argue that republicans least realize that there is a problem here and there is a real disconnect between washingto
'll be a while, in other words. dagen: it will be a while, but the good news is the budget deficit is actually declining. suggesting a decline for the next three years, so there's a little bit of time in washington to get it right. it is not as imminent, you have not done sequestration, but it is still the fed, all about the fed. what the market will be focused on is not so much when they will raise rates because that is forever into the future, but will they be skimming back the 85 billion in purchases? i don't think there will be any sign that will happen. i think it is helping the economy. connell: you agree with the policy? >> i agree with the policy, but what is propping up the stock market is the better economy. and i cannot attribute that alter the fed. a lot of people don't think the fed is doing very effective, think it works a little, but housing is coming back certain the fed is helping that, jobs, business investment more than just the fed, that is a general improvement in the overall economy, there's no question the fed kept at it. but there is more to it than just the fed. connel
of the american people, including the majority of self-identified republicans that we can move forward on deficit reduction in a balanced way. >> bret: senior political analyst brit hume in miami tonight with thoughts on the charm offensive. good evening, you look sun-shiney in miami. >> life is good here, bret. you should come. i hope you will be here soon. >> bret:ly indeed. what do you think of the charm offensive? >> well, it was a remarkably sudden conversion by the president from an attitude of, you know, up yours. i don't need you, to i want to get together to talk with all of you. of course, the leaders in the, the republican leaders in congress who are smart enough not to act skeptical about it. they said they thought it was fine and good. more the better. but i think in the end, you have to ask a question, bret. simply this. is it likely that president obama will make any major concessions on the entitlement programs, without more new taxes? and the other side of that, of course, will republicans be willing to go along with more new taxes to get reform in entitlement programs. unless yo
we go deficit reduction. you saw minutes 6-3. there was expectation we had noises out from tucker that perhaps there might have been a bigger number voting for qe. what we will look at today is to see what osbourne does with the bank of england and there's a bunch of things he might do from amending the target, inflation target to changing the bank of england act saying we'll put in a jewel mandate. that may be more of a focus than anything he says about borrowing figures and growth numbers. >> absolutely. you can look at the sterling reaction here, ross. we're spiking above 151 now on the back of those minutes. melanie, over to you. i guess investors would have liked to see hints of a more accommodative bank of england here during the last meeting. might there not be more of a policy shift under way perhaps as ross said related to even changing the mandate? >> in terms of what we're expecting today, we do think that it might be the more interesting of the budget to watch. i wouldn't expect any big changes today. i think what he may do is announce a review of the policy fra framew
if you don't tax device makers? it comes from the taxes. this is going to be added on the deficit. they constructed a budget, that made it look as if, as obama promised, not going to cost the treasury a dime. well, the cbo says it will cost $1.3 trillion over a decade. so there is an increase in $1.3 trillion plus a dime in taxes. so that it ends up looking like it's not going to cost. but there will be increases in taxes everywhere. this one will be canceled. it's ridiculous. this is the one area, medical devices where the u.s. has tremendous advantage in technology over the rest of the world. why would you kill an industry that is so productive? so, the money will be cut. it will have to come out of taxes. the $1.3 trillion will become $1.6 trillion. it will climb. ultimately it will be a drag on the economy. i think ultimately after it hits and you get a train wreck and all the inefficiencies people will say in a couple of years, why don't we adopt a canadian system? cut out the middleman. and stop all the waste. simply have a simple system. government is completely in control
taxes, it would curb spending by repealing obama care and eliminate the deficit in ten years. $4.6 trillion in cuts. zero chance of passing in the democratic-controlled senate, it's dead on arrival. >> lawmakers in the house and senate approved legislation to fund the government through the end of september. that avoids the risk of a partial federal shutdown. in the process, they are on spring break for a couple weeks. what's your take on this? >> my take is the whole financial dysfunction of our congress is mind blow iing. you look at this week. let's say frederick, maryland, where there's air traffic control that will be shut. a tower that was built by the stimulus money. so stimulus money went into this tower. the government saying it's a priority. and the the government because of its dysfunction saying we have to shut is down. that's a perfect representation, i think, of how washington is not doing its job. we can't even pass a budget. it can't even run the books. there's no strategy. when you look at some of the spending cuts, you see a lack of a strategy in american financ
without a hint of how it would be possible. without exploding the deficit or dramatically raising taxes on the middle class. this is consistent with what the romney ryan ticket said on the campaign trail last fall. the same issue where they dodged, assembled, and ignored the perfectly reasonable question how is it possible? six months later it's back in the budget but there's still -- but there still is no answer. during the last 40 years there have been only four budgets without deficits. the last three clinton budgets and the one that george bush inherited from bill clinton. in each case taxes as a percentage of the total economy were over 20%. in this republican fantasy land budgets are balanced with revenues at 19% of the economy, yet meeting the needs of 78 million more seniors and a infrastructure deficit that is growing as america is falling apart. clearly this is not remotely possible if we are going to enjoy anything like our current quality of life. there is a real world intersection of budget saving opportunities with potential areas of agreement. health care reform is one. b
out of our deficits, we could save social security, medicare and have an economic growth boom that we haven't seen in a long time. >> california alone in one shale oil field has 100 billion barrels of oil. that is california. >> sean: how stupid, we are a stupid country. we're stupid because we allow the government-- why are you looking at me. >> i'm agreeing with you. >> sean: we're a stupid country. >> we need to get out of our own way, but this is a little bit after small detail, but a very important one for business and for america to understand. last week, one of the rules of the obama administration put out was to say that if you're going forward with any sort of project you're going to have to tell us how much carbon that will put out into the-- so it's called the nipa analysis and that's like putting a ten pound weight on everybody's ankle. >> sean: that's a hundred pound weight. >> it sounds like a minor bureaucratic detail, but it will strangle-- >> you guys will weigh in and i hope you'll pick a fight with you here. i've got to tell you, dana, they're not doing this, not ta
and the work ahead." and david leonhardt, author of "here's the deal: how washington can solve the deficit and spur growth." i am pleased to have them both on the program. what's the headline coming out of bernke's press conrence? >> i think steady as it goes is the main headline. the fed is going to continue to buy these bonds it has been buying at about the same pace. it's going to continue doing it until sees unemployment fall to about 6.5%. i don't think there are any changed today. i think the most interesting part of the news conference was when bernanke wanted to stay on in the job. although he refused to answer the question he said he and president obama had spokeeb about it "a bit." ihink it's intesng to think about the idea he and obama have talked about whether he wants a third term and how inclined obama is to give it to him. >> rose: i would think if obama is talking to him about it it suggests will obama would like for him to continue. >> i think that's a good assumption. i think obama clearly likes bernanke and thinks on the whole bernanke has done a good job. he has made th
on the possible deficit reduction deal. hi, john. >> it's an interesting blend of confrontation and cooperation. call it a controlled battle because you've got the u.s. senate today taking up a bill to avert a government shutdown by sustaining government funding beyond march 27th. the house has already passed the bill. there are differences between the two chambers and the two parties on what they want to do to the effects of the the bill. it smoothed out some things. made it easier for the pentagon to adjust. the senate has other departments which it's trying to help. still some disagreements there. but they expect to be worked out by the end of the week. at the same time, there's a huge gap between the two long-term budget plans that the two parties are pushing. and john boehner over the weekend said, we're done with tax increases. he was repeating that position. the house white house responded, the senior adviser, saying no deal is possible as long as john boehner is in that place. so that's where we are, sue. you've got on the one hand the two parties working together. they are like my to a
exaggerated by looking at year to date, a boon. the boon right now, at a 56 basis point deficit to the treasuries. that's a wide spread. and the last two-day chart of the euro versus the dollar. should it break through 1.28.80, it could challenge the current four-month lows versus the greenback. sue, back to you. >> rick, thank you very much. >>> some new clues about the state of the job market today. the number of americans filing unemployment benefits rising slightly last week to 336,000. a tad below estimates. we've seen a number of job cuts announced recently. so is the labor market running out of steam? listen to what "mad money's" jim cramer said earlier today. >> tens of thousands of people are going to be laid off within the next month. >> whatever little. >> and that's going to show up in the numbers, in that 330,000 employment, that may be the last good one. bernanke is not smoking dope, pot, whatever they call it now. >> well, is he right? joining us now is "the wall street journal's" chief economics correspondent john hillsenrath. good to see you. >> good to be here.
.6 trillion annual budget, he can manage a $16 trillion deficit, but somehow he can't figure out how to keep tours open for the american people? he can't even figure that out? how is he supposed to figure out all those other heady things bob is talking about the real serious decisions which he can't control that he does control which is the white house. bill: talk about the job loss. that eventually will come. bob, if you were working in the white house would you have closed off the tours? i mean is that the decision you would have reached for? >> i would have canceled toilet paper order first. the reality is, but, look, you know, when brad talks about this, there are now boats in newport news, virginia, in for retrofitting have been stopped, the work on them. there are airports that are in fact airports closed down, small ones around the country. there have been furloughs done at the border. there are a lot of things going on here that should not be looked at. bill: it will not look good if you have 35,000,000 members of congress and their family members on the south lawn -- >> i'm not argu
the deficit, creates jobs, ensures global peace and security. t fights a good fight often without a lot of recognition but just doing a good job. not speaking today on behalf congressional black caucus. we have to hold any president ccountable in terms of checks and balances. that is part of the three ranches of government, udiciary, executive and legislati legislative. we have a duty and ensure that y to people have a voice in their guest: let government. what the house of representatives is about. written to president obama and respectfully have sked him to really justify and give us the information about the asis upon which -- legal basis -- the use of drones is engaged in as a result of efforts. we are waiting for the response from them on that. think it is important we ask any president questions as members of congress, it is our responsibility to do that and to personally continue to do that. i think that it president has image changed america's and role in the world and is phenomenal job. but that doesn't mean i won't exercise my duties and rights as ask the of congress to hard q
trillion deficits -- that would be the annual difference between what we bring in and what the government spends -- four in a row more than a trillion dollars -- after more than $1.6 trillion in tax increases, after hundreds of billions of dollars worth of new regulations, our country is mired, we are mired in the longest period of high unemployment since the great depression. that is a direct consequence of this huge debt and our creditors' lack of confidence that we're actually serious about dealing with it. indeed, many workers have simply given up on finding work, which is one reason why our labor force participation rate is now at a 32-year low. unemployment's almost 8% but that doesn't take into account the millions of people who have simply given up looking for work after a long period of unemployment. since june 2009, when the recession officially ended, median household income has fallen by more than $2,400. so instead of treading water, the average american family is seeing their buying power decrease by more than $ 2,400 since 2009. at the same time, they're finding not only ar
to a trillion dollars in new deficit for this year. you know, you look at paul ryan's budget, for example, ten years down the road, 41 1/2 trillion dollars in spending and that was supposed to be a victory, because the democrat's version was 46 1/2 trillion dollars, we're still outspending our means. still a broken system. d.c. really has to figure out how to get a balance, a balanced budget would be a win. stuart: in the short-term if i'm a trader, trading stocks, for example, i think this is a win for republicans and i think this is a win for me as an investor. stocks go uu. you say? >> well, i think you're conflating. and 20 years trading and what i told you last time and the last time and last time, i think that things are getting better in spite of president obama because if we continue to juice the system the way we are, we're adding 85 billion dolllrs to the treasury, ingratiating the banking system. i'll tell you this, ready for this? you have investors out there to watch the show and pick out stocks to buy, just buy u.s. banks. buy u.s. banks. we are giving them so much money. we're g
that deficit with the daily impact. you kind of hurt that a little bit and what the president living in that abc news interview as well. is that a new track for the democrats. >> first, they went too far with the fears of armageddon. the democrats overplayed their hand. on the other hand, it is the case that the ordinary american is in having a better life in their parents. they are worried about reform plans. they are uncertain and they are nervous. dagen: $17 trillion debt, the average american is not having the impact on the lives. >> i am disagreeing. the democrats overplayed their hand with fear. we have tepid economic growth. we are not seeing the revitalization of the economy on main street. connell: regular people -- >> so-called great rotation into stocks from bonds has not really happened to the degree people expected. a lot of ordinary people who were heavily invested in mutual funds have not come back. connell: doug, thank you. dagen: watch out for rising interest rates. that will be pain that everybody feels. speaking of rising interest rates and the housing market and h
a surplus of politics and deficit of intelligence when it comes to this. germans and fins and a number of others feel they have to tell very uninformed electorate that they are being tough. we have to extract some blood. they don't understand that this is a two pointed sword. by trying to extract blood from greeks sand cypriots they are inflicting enormous pain. $500 billion worth of capitalization around the world wiped out. >> as moronic as this plan was, we've heard there are not a lot of options. >> there are options. >> first of all, they should be putting in place the equivalent of the fdic. when we close a failed bank in the united states, we go in on a friday with fdic and occ. it's all hush hush. you close the bank. you move the depositors money into a good bank and you don't lose faith in the banking system. >> don't they need 27 countries to put that in their charter? >> this is what europe was moving toward. this is what was recognized this past summer and this is why -- >> we knew it would take time. >> this throws that out the window and the thing is that they're not sayi
to approximately 5 billion euros. because then all your financing are the government deficits. >> adam, thank you so much. >> my pleasure. >> becky, you highlight a really good point. what is very clear from this government and also from the people on the ground that i've spoken with is they absolutely don't want to see a reduction in the sides of the banking system here because they know that is what 50% of the economy and a ton of the jobs, as well. they realize it's going to be a change of livelihood. changes that will happen in this country no matter what are going to be startling to the people here. >> i saw all the headlines coming from russia and the president here making strong comments. is that going to fall on deaf ears in europe? is that not a big deal as far as they're concerned? >> that would be my interpretation, absolutely. would you agree with that, adam? whatever russia says is going to fall on deaf ears when it comes to the troika? >> it doesn't fall on deaf ears. but the europeans have made a categoric statements. cypress has to come up with 5.8 billion euros. it can't be throu
that the information exists, but the lack of a communication ability to translate that is a significant deficit. for highly uncommon event such as an asteroid flyby, there simply no established mutation mechanism that i believe our flight operations team learned of da 14 when they received a courtesy call from a colleague at the aerospace corporation. last year the commercials of the industry participate in deities shriek for war games. these games are held every other year and they're designed to exercise dvd thinking about the deployment of the terrestrial and space aspects in response to a complex situation. last of those games included as they have several times in the past that dod relies on commercial satellite company, their reliance is considerable and that a crisis is the wrong time to establish clear lines accumulation which a major partners and suppliers. i suspect the same conclusion can be safely applied to the topics we're discussing today. while governments were first to since i want to near earth space, commercial enterprise will be the primary user of the orbital arc in the 21s
deficit. we're spending a trillion more than we take in every year. everything has to be on the table. one thing i would suggest is that there are tipping points to everything. in the middle class segment people between $100,000 to $250,000 in home purchase price, mortgage interest makes sense to the middle class borrowers. and the question is do they count that when they look to buy a home versus rent. people stopping buying altogether. if it has an impact, how does that impact construction? has to be on the table. it has to be something we take in context with the broader picture. >> help us get rid of freddie and fannie some day too. put something together for me, will you? >> keep in mind, while we sit around and vilify freddie and fannie. >> see you love them. that's a shock. >> i don't. i think we ought to go away from them. but we need liquidity to ensure there's capital. >> can't do it now. especially now. all right. great hair. good looking man. and you watch, unlike some other people that work here. anyway, thanks, dave. >> you may not watch for a few minutes when you walk to get
project 1 billion dollar deficit next year. the closures will save chicago $560 million the next decade. >> whether you do this, mike, in chamucla, florida, or chicago, illinois, this is always excruciating tough for parents and kids, but you got to do it if you're going to keep the budget. >> you have to do it to same some semblance of sanity for a big city like that but you get into where are the displaced kids going to go to schools when the schools are closed? are they going to be bussed? most parents would like their kids to go to a neighborhood school and what happens then? that a huge burden for the mayor now. >> totally. sequestration is complicating it even more. we just did a report that head start across the country is facing these exact challenges and cutting school days and not accepting kids and randomly dropping kids from the program and a disadvantage for kids in that economic status. >> you look at the regional and local papers across the country you see endless stories like this. you look at the national programs and turn on the tv news and where is the white house tou
if rates were liar. they had the time because rates were so much lower and deficit was going up slower. in a real sense the fed buying the treasuries has made it less painful for the government. >> i'm not sure if the population that chairs the euro or those that chair somewhat with central planning with regard to the 27 countries, but my question to you is i'm not sure we're going to lose any of these countries, but on the other hand, keeping their funding and the central bankers and the banks and insolvency all in line is a full -time job. is anybody worried about how we're growing these economies? is that the rally big elephant in the room? >> the growth hasn't phone zone up. we talked about it many times. what is the eventual exit strategy? our fed can't decide when to stop buying treasuries much less strengthen the balance sheet. >> i talked to jim bianco about the taper. this is another arena where the fed is going to paint themselves into a corner, they're going to move them up and down with every data point? in the end, they just have to say enough is enough, don't they? >> goi
for this in more ways than one. you think about the deficit, the government doesn't have this kind of cash and people are concerned this isn't necessarily the best use of taxpayer money. in the video, you saw a second ago, people are dressed up as crew members on a starship enterprise, and the government employee version of characters claiming they will boldly go where no government employees have ever gone before. it is funny. but i watched the videos with my producer and we were trying to to figure out the training value and people have similar questions. >> i have been since corrected and am about to burst into a fit of giggles and i inappropriately said it is "gilligan's island," not whatever i said. what is the irs saying about this in. >> they came up with this statement saying it is -- i'm quoting now, no mistaking this video does not reflect the best stewardship of resources, and that video of this type will not be made today. so the irs does say training gener videos in general are cheaper. that would involve some travel. >> okay. zain asher, thank you. >>> honeymoons, they are th
. here is the next question. is reducing the federal deficit a worthy goal in and of itself? and 85% say yes. 11% say no. it's not just john boehner who said it's not an immediate problem. paul ryan, the face of fiscal responsibility himself this past weekend on one of the sunday shows said not an immediate problem. so americans have gotten the message that it is a problem and that we should be tackling it right now, even though our lawmakers feel it can be down the road a year, five years, whatever we tackle it. >> brian: our next guest has nothing to at to this subject. so i'll move on. >> steve: he does. he's going to -- >> brian: he's coming out of his chair. solar companies were supposed to boost our economy. now evidence they might be tanking our economy. you remember solyndra that cost american taxpayers more than $500 million. turns out it may have a successor. >> steve: months after opening, the oregon based solar panel company, solo power, is facing layoffs, putting 250 million of our taxpayer dollars in jeopardy. apparently stuart varney, we learned nothing from solyndra. >> n
of a communication ability to translate that is a significant deficit. for highly uncommon events such as an asteroid fly-by, there's simply no established communication mechanism. i believe our flight operations team learned of da-14 when they received a courtesy call from a colleague at the aerospace corporation. last year the commercial satellite industry participated in dod's war games designed to exercise dod thinking about the deployment of its terrestrial and space assets in response to a conflict situation. last year those games concluded, as they have several times in the past, that dod relies on commercial satellite companies -- their reliance is considerable and that a crisis is the wrong time to try to establish clear lines of communication with your major partners and suppliers. i suspect the same conclusion can be safely applied to the topics that we're discussing today. while governments were first to send satellites to near-earth space, commercial enterprise will be the primary use of the orbital arc in the 21st century. government and space operators need to take a more collaborative
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